Hi Treasure Friends,
We hope you are well. The important news last week for the economy was the release of the GDP which showed the economy growing at a strong 4.9% pace.
In a few charts
If you are curious about why the economy might be so strong our Co-Founder and Chief Investment Officer presented at the CFO Council his view and outlook on the economy: Here is a summary.
What the Treasure Team is reading
- Economy: Despite the higher interest rates U.S. new-home sales surge to the highest level since February 2022
- Finance: He sadly passed away this week but here are some great lessons from a legend in investment Byron Wien’s 20 Life Lessons
- Finance: A good overview from the FDIC Banking Sector Performance During Two Periods of Sharply Higher Interest Rates: 2022 and 2004 to 2006
- Markets: Should you be concerned about the large inflows into money market funds Don’t worry about money market funds
- Markets: Higher interest rate as an opportunity 'Buy A T-Bill And Chill': Bond King Jeffrey Gundlach Says He's Happier As A Bond Investor Now
- Tech: Bubble? Generative AI: The Buzz of the Party, but who's Dancing?
- Fintech: Everything is Fintech Elon Musk gives X employees one year to replace your bank
From the Treasure chest...
A bull market in deodorant: Workers returning to the office and socializing after pandemic lockdowns helped lead to a 15% surge in sales of deodorants, according to the maker of Dove, Rexona and Impulse. Unilever said the shift away from home working and expansion in Latin America had helped offset heavy competition from expensive new brands in the US such as Native and Dr Squatch. Graeme Pitkethly, the group’s finance director, said: “Many people didn’t use deodorant as much when they were in lockdown and working from home and some recovery in that is coming through.”The recovery in deodorant sales helped Unilever’s personal care division outperform the rest of its product categories in Europe making it the only one to increase the amount of items sold.
Have a great week!
The Treasure Team
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